Dodge City times. [volume] (Dodge City, Kan.) 1876-1892, 1887-09-22
Heavy Supplys From Abroad Do
Not Materially Lessen the
Stringency Felt in Money.
MUCH CAPITAL. COMING WEST.
New York Banks Have no Money
to Spare, Hence Great Trouble
I'm Making Time Loans.
Western Cities Show q Brisk
Activity In Trade,

r. G. Dun & Co. in their weekly re.
view of trade say:
All anticipations of money stringency
are abundantly justified by the pressure
felt in spite Of supplies from abroad be-
yond anticipations. Gold would be 60
ing out in large amounts if the merchants
alone controlled it, but it is instead COM
ing in largely through syndicates in the
purchase of securities or other invest
meats. and yet the pressure is severe.
The Boston market Is light, many mill
ions being sent west for railroad build
ings. Philadelphia is cautious because
of recent failures. Cincinnati is dispOs
ed to conservatism by the Cincinnati,
Hamilton & Dayton uncertainty and the
effects of the Fidelity collapse; Chicago
reports enormous husinegs by note and
high rates bid by merchants and manu-
facturers; stringency is reported at Nash
vile and Atlanta and an active demand
at full rates at New Orleans. The de-
maad in Cleveland, Omaha and Kansas
City and other western citiee is brisk on
account of activity In trade. The treas
ury still absorbs money. 1t holds now
81, 500, 900 more gold than on last Satur-
day, and $500, 1000 more legal tender,
against Ss00, 600 less silver; but the treas
ury absorption does not account for the
scarcity in view of large imports OF gold
aud the conclusion is unavoidable that
the drain Of money to the west is unusu-
ally large. Great trouble In making
time loans because New York banks have
no money to spare. depresses stocks and
causes curtailment of commercial trans
actions. Months ago it was foreseen
that real estate speculation and an at
tempt to do in ono year all the building
for several years to come, would cause
some depressment, which is now felt.
The production of pig iron is not small
er than year ago but according to the
Iron Age. an increase Of 10 per cent. Ex-
cept for few grades, the tone is weaker
and heavy imports continue with much
complaint of differentiation.
Wheat is lower in spite of reduced
ocean rates to Liverpool. Large exports
from California in August at nominal
price above 81 per bushel, are officially
reported, and suggest that the effects of
the corner are felt yet ia Liverpool.
Corn is a shade lower, but there is no
longer any doubt that the crop was great
" diminished by the drouth, another
effect of (which is seen in heavy ship
ments of cattle.
Oil doomed to about Is cents on reports
of meeting of producers, but collapsed
to 62 on Wednesday, and recovered lit
tie since.
The wool market drags lifelessly. The
boot and shoe trade still improves, and
dry goods are fairly sustained, but with
irregularity in demand which makes some
qualities scarce.
Exports of bread stuffs, provisions, cot
ton, cattle and oil were $37, OOO,O 900 in
value, but imports at New York for Au-
gust show an increase of Is per cent.
Gold comes this way. not in payment for
goods, but as loan.
The business failures during the last
seven days number: For the United
States, 1855; for Canada, %; total, 1888,
compared with ia last week and 1876
last year.